FTC SET TO SUE AMAZON OVER KIDS’ IN-APP PURCHASES: More from Katy Bachman and Erin Mershon [ http://politico.pro/1qn7HOk]: “The Federal Trade Commission is preparing to sue Amazon over in-app purchases made by kids without parental consent. In a copy of the complaint obtained by POLITICO, the FTC charges that Amazon often failed to obtain parents’ informed consent to the purchases. Amazon retains 30 percent of all revenue from in-app charges, which range from $0.99 to $99.99. That can add up to ‘tens of millions’ since Amazon first began billing for in-app charges in 2011, the agency says in the complaint.”

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WHILE YOU WERE WORKING: Fed chair Janet Yellen talks economic resilience, while a Senate panel sets a hearing on GM’s recall crisis; You’re not using your electronic devices on taxi and takeoff, a report finds; And lawmakers are coming up with some creative ways to get the money you owe in taxes.

YELLEN: NO NEED TO ADJUST MONETARY POLICY TO ADDRESS FINANCIAL STABILITY: Federal Reserve Chair Janet Yellen said Wednesday that she does not see a need to deviate from the current monetary policy approach and its focus on price stability and maximum employment in order to address financial stability concerns. Yellen emphasized that policymakers should focus first on tougher standards to boost the resilience of the financial system. “This focus on resilience differs from much of the public discussion, which often concerns whether some particular asset class is experiencing a ‘bubble’ and whether policymakers should attempt to pop the bubble,” she said. “Because a resilient financial system can withstand unexpected developments, identification of bubbles is less critical.” Read her full speech here: http://politico.pro/1lU6Hjt

SENATE COMMERCE SETS GM HEARING FOR JULY 17: The Senate Commerce subcommittee on consumer protection will hold a second hearing on the GM recall crisis on July 17 at 10 a.m. The witness list for the hearing, entitled "Examining Accountability and Corporate Culture in Wake of the GM Recalls," is still being finalized, a spokesman for subcommittee chair Sen. Claire McCaskill said. The House Energy and Commerce Committee has already held two hearings on the GM recall, but Democratic senators have been more aggressive in proposing legislative fixes.

STUDY: GADGET USE ON PLANES 'VIRTUALLY FLAT' SINCE RULE CHANGE: Air travelers used to chafe bitterly against having to put away their iPods and Kindles during takeoff and landing, but a new study out today suggests that even though the restrictions on use below 10,000 feet have been scrapped, people don’t seem to be using gadgets much more than before. The ongoing study [ http://bit.ly/1iYo8Qb], by DePaul University’s Chaddick Institute for Metropolitan Development, found that technology use on airlines “remained virtually flat and continues to lag behind other modes, suggesting that the relaxation of the FAA policy on the use of personal electronic devices is having little effect.” Meanwhile, the use of personal electronics on buses and trains is up, the researchers found. The study speculates that usage on rail and buses may be outpacing that of airlines simply because there’s more space in which to comfortably use them. “Technology use on Amtrak and discount city-to-city buses is being fueled in part by the superlative environments these modes offer passengers,” it says.

LAWMAKERS TURN TO STEALTH TAX MEASURES: Brian Faler writes [ http://politico.pro/1sYmx15]: “Owe back taxes? Lawmakers want to cancel your passport. They want to give the IRS more power to investigate you. And enlist private debt collectors to help track down your old debts. If you’re a doctor, they want to seize your Medicare payments. They’d also like a bit more information about the mortgage interest tax deduction you’re claiming. Congress may be deadlocked over tax increases, but lawmakers are finding lots of agreement on another way to raise revenue: throwing the book at tax dodgers.”

1994 BATTERY CHARGE SURFACES FOR GOP CHALLENGER: Nicholas Fandos with more [ http://politico.pro/1o9GXgP]: “In his underdog campaign for a House seat, California Republican Steve Adams often touts his 15-year career in law enforcement. What he doesn’t mention is his own brush with the law. While living in Kansas in 1994, Adams was arrested and charged with committing battery against a woman with whom he was having an extra-marital relationship, court records show. (The charges were later dropped as part of an agreement.) … Adams, who is running to unseat Democratic Rep. Mark Takano, downplays the previously unreported incident, insisting it was not violent — ‘I have never hit any female in my life,’ he said. And it’s far from clear whether voters will be swayed by a case from two decades ago.”

COMMON CORE TEST ANXIETY: Here are Stephanie Simon and Caitlin Emma [ http://politico.pro/1iYqTRF]: “A new front has opened in the Common Core wars — over testing contracts. The high-stakes battle is undermining one of the Obama administration’s most prized initiatives: its vision, backed by more than $370 million in federal funds, of testing students across the country on a common set of exams in math, reading and writing. The administration wants children in Mississippi to be measured against the same bar as children in Massachusetts or Michigan. But now a testing revolt is spreading across the country, adding to a slew of troubles for the Common Core initiative, which began as a bipartisan effort but has come under fire from angry parents and teachers across the political spectrum.”